( Author )
22 May 2012
I Purchsese a rough diamond of rs.1000 (100 carats)
and that rough diamond given for polished on labour and same reced after some days 50 carats rs.1500(market price)
labour paid for polished rs . 400
so accounting entry will be..?
and i have closing stock same of polished diamond 50 carats of rs.1500.
no sale no openind stock